SVB Wealth LLC Acquires Shares of 836 Artisan Partners Asset Management Inc. $APAM

SVB Wealth LLC acquired a new stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 836 shares of the asset manager’s stock, valued at approximately $33,000.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Artisan Partners Asset Management by 12.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager’s stock worth $2,234,000 after buying an additional 6,508 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Artisan Partners Asset Management during the first quarter worth $275,000. Drake & Associates LLC increased its holdings in shares of Artisan Partners Asset Management by 31.0% during the first quarter. Drake & Associates LLC now owns 40,174 shares of the asset manager’s stock worth $1,571,000 after buying an additional 9,518 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Artisan Partners Asset Management by 80.2% during the fourth quarter. Squarepoint Ops LLC now owns 19,397 shares of the asset manager’s stock worth $835,000 after buying an additional 8,633 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its holdings in shares of Artisan Partners Asset Management by 7.6% during the first quarter. Twelve Points Wealth Management LLC now owns 77,190 shares of the asset manager’s stock worth $3,018,000 after buying an additional 5,478 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APAM. Wall Street Zen upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Evercore ISI reduced their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday, May 1st. TD Securities boosted their price objective on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Cowen reissued a “hold” rating on shares of Artisan Partners Asset Management in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada boosted their price objective on shares of Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management presently has a consensus rating of “Hold” and an average target price of $39.30.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $47.43 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.83 billion, a P/E ratio of 12.61 and a beta of 1.69. The firm’s fifty day simple moving average is $45.92 and its two-hundred day simple moving average is $42.19. Artisan Partners Asset Management Inc. has a 12 month low of $32.75 and a 12 month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $282.80 million for the quarter, compared to analysts’ expectations of $269.00 million. Artisan Partners Asset Management had a net margin of 23.87% and a return on equity of 71.72%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, analysts predict that Artisan Partners Asset Management Inc. will post 3.6 EPS for the current year.

Artisan Partners Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 6.2%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Artisan Partners Asset Management’s payout ratio is currently 77.66%.

Insider Buying and Selling

In other news, CFO Charles J. Daley, Jr. sold 15,448 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $40.45, for a total transaction of $624,871.60. Following the transaction, the chief financial officer owned 91,363 shares of the company’s stock, valued at $3,695,633.35. This represents a 14.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.53% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.